Synlogic, Inc. (NASDAQ:SYBX) Short Interest Update

Synlogic, Inc. (NASDAQ:SYBX – Get Rating) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 695,800 shares, an increase of 141.0% from the April 30th total of 288,700 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily volume of 296,800 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

SYBX has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating on shares of Synlogic in a report on Thursday, April 27th. Chardan Capital cut their price target on shares of Synlogic from $7.00 to $5.50 and set a “buy” rating on the stock in a report on Wednesday, March 29th.

Synlogic Trading Up 2.8 %

Shares of Synlogic stock traded up $0.02 on Friday, hitting $0.56. 66,537 shares of the company’s stock were exchanged, compared to its average volume of 246,097. Synlogic has a 1 year low of $0.45 and a 1 year high of $1.35. The company has a 50-day simple moving average of $0.59 and a 200-day simple moving average of $0.71.

Synlogic (NASDAQ:SYBX – Get Rating) last released its earnings results on Wednesday, March 29th. The biotechnology company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.02. Synlogic had a negative net margin of 5,952.43% and a negative return on equity of 71.60%. The company had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.40 million. As a group, equities analysts anticipate that Synlogic will post -0.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SYBX. Alyeska Investment Group L.P. increased its holdings in Synlogic by 2.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,590,945 shares of the biotechnology company’s stock valued at $6,218,000 after acquiring an additional 74,239 shares during the last quarter. Fiduciary Trust Co. bought a new stake in Synlogic in the 1st quarter valued at $212,000. State Street Corp increased its holdings in Synlogic by 20.8% in the 2nd quarter. State Street Corp now owns 154,284 shares of the biotechnology company’s stock valued at $177,000 after acquiring an additional 26,519 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Synlogic by 60.5% in the 2nd quarter. Millennium Management LLC now owns 125,126 shares of the biotechnology company’s stock worth $144,000 after buying an additional 47,155 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Synlogic by 110.2% in the 3rd quarter. Renaissance Technologies LLC now owns 115,600 shares of the biotechnology company’s stock worth $110,000 after buying an additional 60,600 shares during the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

About Synlogic

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Synlogic, Inc engages in the discovery and development of synthetic biotic medicines. It focuses on phenylketonuria, enteric hyperoxaluria, immuno-oncology solid tumors, inflammatory bowel disease, and vaccines and other inflammatory programs. The company was founded by James J. Collins and Timothy K.